IRS to Truncate Tax ID Numbers

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The IRS is taking a big step to help protect the identities of every citizen of the United States.

They have proposed a rule change that would allow allow some statements from businesses to individual tax filers that would not include all nine digits of the social security number. The  “truncated taxpayer identification number” (TTIN) would only include the last four digits. So basically look like credit card receipts.

This provides the verification that is required without the exposure if it was stolen.The IRS is accepting public comment on the proposed rule until 2/21 and will hold a hearing on 3/21. This makes so much sense lets hope it goes into effect by next tax season.

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